SANDY SPRINGS, GA-Hines filed plans on Wednesday to rezone a portion of its massive 100 Northpark development here.
Hines, which is representing the ownership of the 14-acre site, a pension fund, filed plans with the state Department of Community Affairs for the project that calls for the development of 1.5 million square feet of office space, 150,000 square feet of retail, 500 multifamily units and a 250-room hotel.
The property is currently zoned to allow 1.3-million square feet of office space, according to the Atlanta Business Chronicle.
As the project moves forward, the local office market is active. Office leasing activity in the Central Perimeter office market posted more than 1.2 million square feet in total net absorption in 2012, and the class A vacancy rate fell to approximately 15%, according to Jones Lang LaSalle Inc. data. See story in the Atlanta Business Chronicle.
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